Tuesday, 16 September 2014
Last updated 6 hours ago
Nov 14 2006 | 8:51am ET
It’s been a rough year for energy funds. The wild ride taken by natural gas this summer burned many, turning once high-flying funds like Amaranth Advisors, MotherRock and Ritchie Capital’s energy offering into failures, some more spectacular than others.
In spite of the environment, Oakbrook, Ill.-based Highview Capital thinks it can do better, rolling out its new $47 million Highview Avenue Energy Fund on Nov. 1.
“The energy funds that have had problems have been purely commodity-trading funds,” lead partner Jeff Wallace said. “We’re trying to be levered across different products” – investing in energy-related equities and credit, as well as commodities – “hopefully taking a commodity view in different ways across different products.”
The fund will invest in “the whole spectrum” of the energy sector, and has attracted primarily institutional interest. Wallace chalks that up to its multi-strategy mandate, which he expects will be less risky than the heavily-levered commodity energy funds.
Morgan Stanley and Calyon are serving as prime brokers.
“We just want stuff to be volatile, and right now, things are pretty volatile,” he says hopefully. “So we should do well.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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